Toyota wants to boost hybrid production, report says

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News reports out of Tokyo today indicate Toyota wants to be producing 1 million hybrid vehicles worldwide by next year.

The report quoting Nikkei business in Japan means the automaker would likely double the number of hybrids it built for global markets last year.

This news comes fresh on the heels of Toyota’s much-anticipated reveal of its news FT-CH concept last week at the North American International Auto Show in Detroit. The new model would be smaller and less expensive than current green models.

It is not known if Toyota plans to build hybrids in the U.S. or Canada.

- with files from Reuters News Agency